To assess the damage and fracture behavior of wood under load, a wood damage assessment method was proposed based on acoustic emission (AE) b-values and seismic magnitude difference entropy. First, AE signals from Pinus sylvestris var. mongolica (softwood) and Zelkova schneideriana (hardwood) specimens were collected separately at a sampling frequency of 500 kHz in a three-point bending test. Then, 52 dB was taken as the threshold of the AE event, and the b-value and seismic magnitude difference entropy were calculated at 4-s intervals. Finally, by comparing with the load‒time curve, the b-value and seismic magnitude difference entropy were used to evaluate the damage fracture degree. The results showed that an increase in the b-value indicates the accumulation of strain energy, and vice versa, corresponding to the concentrated release of strain energy. At the same time, the test process can be divided into three stages—elastic, elastic‒plastic and plastic—based on the level of the seismic magnitude difference entropy.